Nigeria, next investment destination of choice after China, India, Edun dreams

Nigeria’s Minister of Finance and Coordinating Minister for the economy, Mr Wale Edun, says after China and India, Nigeria is the largest economy that investors are running after. Edun said this in an interview with newsmen on Tuesday in Marrakech, Morocco, on the sidelines of the ongoing 2023 World Bank/International Fund (IMF) Annual Meetings. He, however, advised that the country had to be ready to attract such investments, and to turn initial interest into investment in Agriculture, solid minerals, industry, manufacturing and import substitution. According to the minister, these are the areas spurring investors’ interest in coming to Nigeria and investing by Foreign Direct Investment.

“Such investors also include those that are already in Nigeria. Our wish is to grow the Nigerian economy, reduce poverty, and make life better for all Nigerians. That is the determination of President Bola Tinubu and members of his administration. We are laying the groundwork for achieving that by making the tough decisions,” he said. He said that he was at the World Bank/IMF meetings in Marrakech to get a sense of what the whole world thought of Nigeria. He said that the reaction so far had been positive, adding that Nigeria had been appointed to chair the African Governors’ Forum of the World Bank. 

“The opportunity is now there to unite the African continent, the finance ministers of Africa, the economic leaders and representatives of governments. They should unite and argue for a fair and just energy transition, for instance. “Nigeria has the opportunity now as the chairman of the African Governors’ Forum to unite the continent to enable African countries speak with one voice and get a better deal for Africa,” he said. (NAN)